TDC may be next telco IPO-report

Denmark’s largest carrier TDC may be poised to float on the Danish stock exchange next year and may divest non-core assets, according to a UK press report.

The Sunday Times reports that a consortium made up of  private equity giants Apax Partners, Blackstone Group, Kohlberg Kravis Roberts & Co., Permira and Providence Equity Partners are in early discussions about taking the carrier through the IPO process.

The private equity consortia acquired  the Danish company in 2005 for Euro 13.4 billion.

Despite a drop in revenue of 1% in the last year, TDC has performed strongly over the last four years making a float an attractive proposition to investors.

Speculation suggests that as part of the float, non-core assets may be sold off.

These assets include Swiss unit Sunrise, and a majority stake in Hungary’s second largest fixed carrier  Hungarian Telephone, Cable Corp. Orange has been mooted as a potential buyer for Sunrise.  The carrier has not commented on the speculation at this stage.

 

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